Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) said it profits grow 41.3% in the second quarter of 2016.
The real estate developer posted net profits of EGP 103.13 million ($11.58 million) for the second quarter of 2016, compared with EGP 72.98 million ($8.2 million) for the comparable period of the previous year.
As for the first half of 2016, SODIC reported net profits of EGP 157.78 million up by 3.6% from EGP 152.29 million for the same period of 2015.
SODIC operating profits grew 27.47% in Q2-2016,reaching EGP 112.25 million up from EGP 88.06 million a year earlier.
The company reported a decline of 31% in net profits for the first quarter of 2016, as it reached EGP 54.65 million.
